Tencent Music Entertainment Group Sponsored ADR $TME Shares Bought by First Trust Advisors LP

First Trust Advisors LP increased its position in shares of Tencent Music Entertainment Group Sponsored ADR (NYSE:TME - Free Report) by 1,023.3% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 554,438 shares of the company's stock after acquiring an additional 505,080 shares during the quarter. First Trust Advisors LP's holdings in Tencent Music Entertainment Group were worth $5,145,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also recently modified their holdings of the company. Robeco Institutional Asset Management B.V. increased its position in shares of Tencent Music Entertainment Group by 7.3% during the 4th quarter. Robeco Institutional Asset Management B.V. now owns 5,706,740 shares of the company's stock worth $100,039,000 after purchasing an additional 387,109 shares during the last quarter. Vanguard Group Inc. boosted its stake in Tencent Music Entertainment Group by 1.4% during the fourth quarter. Vanguard Group Inc. now owns 21,455,738 shares of the company's stock worth $376,119,000 after buying an additional 293,385 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in Tencent Music Entertainment Group by 414.3% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,130,608 shares of the company's stock worth $19,820,000 after buying an additional 910,767 shares during the period. Goldman Sachs Group Inc. increased its position in shares of Tencent Music Entertainment Group by 7.3% during the fourth quarter. Goldman Sachs Group Inc. now owns 7,863,263 shares of the company's stock valued at $137,843,000 after acquiring an additional 537,047 shares during the last quarter. Finally, Sumitomo Mitsui Trust Group Inc. increased its position in shares of Tencent Music Entertainment Group by 312.3% during the fourth quarter. Sumitomo Mitsui Trust Group Inc. now owns 5,764,321 shares of the company's stock valued at $101,049,000 after acquiring an additional 4,366,226 shares during the last quarter. Hedge funds and other institutional investors own 24.32% of the company's stock.

Wall Street Analysts Forecast Growth

TME has been the topic of several recent analyst reports. Mizuho decreased their price objective on shares of Tencent Music Entertainment Group from $23.00 to $18.00 and set an "outperform" rating on the stock in a report on Wednesday, May 13th. Weiss Ratings upgraded shares of Tencent Music Entertainment Group from a "hold (c-)" rating to a "hold (c)" rating in a report on Wednesday, July 1st. JPMorgan Chase & Co. cut their target price on Tencent Music Entertainment Group from $12.00 to $10.00 and set a "neutral" rating on the stock in a research report on Thursday, May 14th. Finally, Zacks Research upgraded Tencent Music Entertainment Group from a "strong sell" rating to a "hold" rating in a research note on Tuesday, May 19th. Six research analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock has an average rating of "Hold" and an average target price of $21.44.

Tencent Music Entertainment Group Trading Up 0.8%

Shares of TME stock opened at $9.53 on Tuesday. The company has a debt-to-equity ratio of 0.06, a quick ratio of 2.08 and a current ratio of 2.09. The stock has a market capitalization of $14.99 billion, a P/E ratio of 11.91, a price-to-earnings-growth ratio of 0.62 and a beta of 0.84. The company has a 50 day moving average price of $8.96 and a 200 day moving average price of $11.16. Tencent Music Entertainment Group Sponsored ADR has a fifty-two week low of $7.94 and a fifty-two week high of $26.70.

Tencent Music Entertainment Group (NYSE:TME - Get Free Report) last announced its earnings results on Tuesday, March 31st. The company reported $0.11 earnings per share for the quarter. The firm had revenue of $1.15 billion for the quarter. Tencent Music Entertainment Group had a net margin of 26.45% and a return on equity of 11.20%. Equities research analysts predict that Tencent Music Entertainment Group Sponsored ADR will post 0.89 EPS for the current fiscal year.

Tencent Music Entertainment Group Company Profile

Tencent Music Entertainment Group NYSE: TME is a China-based digital music and audio entertainment platform that operates a portfolio of leading music streaming and social entertainment services. Its core consumer-facing products include streaming apps, online karaoke (KTV) services and live music and entertainment broadcasts. The company monetizes its content through a mix of subscriptions, digital music sales, in-app purchases, virtual gifting, advertising and licensing arrangements with rights holders.

The company traces its roots to the consolidation of Tencent's music assets and was established in the mid-2010s to unify several prominent music properties under a single operating entity.

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